Key insights
- TSMC reported strong Q1 revenue growth driven by AI demand, exceeding market expectations. As a key supplier to major tech firms like Nvidia and Apple, this performance signals robust demand in the semiconductor sector, particularly for AI-related chips. This positive trend for TSMC suggests continued strength for its customers and the broader technology industry, potentially boosting US equity markets.
TAIPEI, April 10 (Reuters) - TSMC, the world’s largest contract chipmaker, reported on Friday first-quarter revenue of T$1.134 trillion ($35.71 billion), beating the market forecasts and up 35% on the year ago period on surging interest in artificial intelligence (AI) applications.
An LSEG SmartEstimate, drawn from 20 analysts, had predicted first-quarter revenue of T$1.125 trillion.
Taiwan Semiconductor Manufacturing Co (TSMC) is a major supplier to companies including Nvidia and Apple.
($1 = 31.7560 Taiwan dollars)
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